AUD/USD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- AUD/USD remains bearish below $0.6309, with sellers eyeing support at $0.6268 and $0.6233.

- The 50-day EMA at $0.6298 is capping upside moves, reinforcing near-term bearish sentiment.

- A breakout above $0.6355 could shift momentum, potentially targeting $0.6383 and higher levels.

The Australian dollar is struggling to gain momentum, with AUD/USD trading at $0.6296, down marginally as traders assess shifting market sentiment. The pair remains under pressure below its pivot point at $0.6327, signaling potential downside risks in the near term. Despite attempts at recovery, the 50-day EMA at $0.6298 is acting as a dynamic resistance level, keeping a lid on bullish attempts.

If AUD/USD remains below $0.6327, sellers could push the pair toward immediate support at $0.6268, with a break lower exposing $0.6233 and $0.6198 as next downside targets. However, should buyers regain control, resistance stands at $0.6355, followed by $0.6383 and $0.6407, which will need to be cleared for a shift in momentum.

Macroeconomic factors, including expectations of Federal Reserve rate cuts and risk sentiment in global markets, will play a crucial role in the Aussie dollar’s direction. The Reserve Bank of Australia’s stance on monetary policy also remains in focus, with any hawkish signals potentially providing support to the currency.

For now, AUD/USD remains bearish below $0.6309, with sellers targeting key support levels. A sustained move below $0.6268 could accelerate losses, while a break above resistance at $0.6355 would indicate a potential reversal.

AUD/USD - Trade Ideas

Entry Price – Sell Below 0.63096

Take Profit – 0.62674

Stop Loss – 0.63383

Risk to Reward – 1: 1.4

Profit & Loss Per Standard Lot = +$422/ -$287

Profit & Loss Per Mini Lot = +$42/ -$28